we want to have smart deficit reduction. we want to grow the economy. we want budget process is the way to do that. we believe we can find common ground. the government had just been open for hours when the leader of the budget conference committee met to start working on a deal by a december deadline to avoid another shutdown. will washington learn its lesson and finally reach a compromise? joining us from chicago the number-two democrat in the senate, dick durbin. here in washington, a member of the republican leadership roy blunt of missouri. senators, welcome back. before we start, let s talk about the big differences between the budget that the house passed and the senate passed. let s put them on the screen. the senate calls for $975 billion in new taxes. the house has none. the senate cuts $275 billion from health care, mostly from medicare providers. the house cuts $2.7
david, what do you think of this? i ll go back to jonas point in approaching the budget both with revenue and spending cuts, and i though what the real debate is with the finance committee chairman with chairman baucus and senator hatch along with reid, look, don t give me reform if it s revenue neutral. give me reform that s revenue generating so we can, as we have in the last two months, brought down our budget deficits by generating additional revenue to the tune of closing loopholes of $975 billion, goes to reducing the deficit. if we re going to have tax reform with closing loopholes, let s do it with it s not about the budget, brenda. the segment is about tax reform. no one has the political you know what to say, yes, let s junk the book like john said. this is a book of favors. you never can patch work fix it. you have to have someone willing to do political suicide and say
trillion of deficit reduction and half come from taxes and the balance come from spending, 975 billion from spending. a vast difference in size and significant difference in priorities. if you try to break down those priorities and look at some different categories of spending, you can see that in the discretionary side, this is the stuff that the sequester effects. ryan wants to cut 1.2 trillion which is 3 billion more than the sqester. party murray wants to cut 600 billion less than the sequester so the democrats the to store 600 billion of the sequester money. the democrats want 100 billion for jobs can i interrupt you there? par patty murray knows they will restore a dime i am trying to highlight major differences between the two sides. explaining to people at home, that s a good negotiating start if i were patty murray and a democrat, that s exactly where i
democrats budget version. ending some of the breaks by closing loopholes, cuts in domestic and defense spending. new spending on infrastructure and we have a graphic of what the budget has, some elements in it. $975 billion revenue increase. $975 defense spending cuts. interest savings as well. $100 billion for road, bridge repair and working training. what do you make in broad strokes? another trillion drarz of tax increases on the heels of the president s health care law, a trillion in tax increases. take a look at that american taxpayers are saying that and right now money is being wasted in washington. and the other problem with patty murray s budge the, it never gets to balance. and paul ryan s budge net ten years, a fundamental difference
big ticket items that mean a lot. democrats and the president just won t go near it the president came up to the hill today and met behind closed doors with republicans for the first time in no one can remember when. and they said it was a productive meeting, et cetera. the democrats look at the republican budget from paul ryan and they say it s draconian and it s not going to work and that the math is phony and everything else. republicans by contrast have to have a point. democratic proposal to increase taxes $975 billion in the next 10 years is going to make an economic recovery a lot harder. in addition, the 97 a billion dollars spending cuts that they claim they re making are reductions in spending. it doesn t balance. the democrats have abandoned the idea of a balanced budget and because of that the deficits might be smaller but the now 17 trillion-dollar current debt is going to be much, much higher if it doesn t balance. bill: let s just cut to the chase here before everybo